The bitcoin exchange rate for the first time in history confidently overcame the important level of $20,000 and set a new historical high just above $20,800.
The last few months have been busy for bitcoin. On November 30, the first cryptocurrency exceeded $19,860 in an attempt to surpass the previous historical high, but it never reached it. Today, bitcoin has set a new record, and this success is due to many reasons.
The CEO of Binance, Changpeng Zhao, believes that it is not only the large investments of institutional investors that stimulate the high liquidity of bitcoin. A clearer position of the regulatory authorities in relation to bitcoin also plays an important role. According to Zhao, this gives hope that in the long term, bitcoin and other cryptocurrencies will provide financial freedom around the world.
Recently, bitcoin has started to receive high ratings from well-known investors. CEO of the analytical firm Global Macro Investor and cryptocurrency enthusiast Raoul Pal (Raoul Pal) he sold all the gold he had and bought BTC and ETH with the proceeds. Well-known author of books on investing Robert Kiyosaki (Robert Kiyosaki) expects that the bitcoin exchange rate will rise to $50,000, recommending to buy cryptocurrency while it is below $20,000.
However, now the question arises, how long will bitcoin be able to stay at this level. After the famous “bull rally” of bitcoin in 2017, in January 2018, BTC was worth half as much – about $9,500. Greenidge Generation CFO Tim Rainey believes that in 2020, bitcoin is more stable compared to what it was in 2017. In the context of the pandemic and the economic crisis, many consider it as one of the best means of saving.
The co-founder of Morgan Creek Digital, Anthony Pompliano, believes that the growth of bitcoin was promoted by macroeconomic factors and the May halving of the reward for miners. Pompliano suggested that the bitcoin exchange rate will grow very aggressively next year.